AirNet Received Nasdaq Notification Letter Regarding Stockholders' Equity Deficiency
Rhea-AI Summary
AirNet Technology (Nasdaq: ANTE) received a notification from Nasdaq on May 13, 2025, indicating non-compliance with the minimum stockholders' equity requirement of $2.5 million for continued listing on the Nasdaq Capital Market. The company's reported stockholders' equity in its Form 20-F for the year ended December 31, 2024, fell below this threshold. Additionally, AirNet does not meet alternative compliance standards for market value or net income.
Nasdaq has given AirNet 45 calendar days, until June 27, 2025, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 calendar days from the notification date. The notification has no immediate effect on the listing of AirNet's American depositary shares.
Positive
- None.
Negative
- Company's stockholders' equity falls below Nasdaq's minimum requirement of $2.5 million
- Company fails to meet alternative compliance standards for market value and net income
- Risk of potential delisting from Nasdaq if compliance plan is not accepted or executed successfully
News Market Reaction
On the day this news was published, ANTE gained 5.40%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BEIJING, May 16, 2025 (GLOBE NEWSWIRE) -- AirNet Technology Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that on May 13, 2025, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is no longer in compliance with the requirement of maintaining a minimum of
The notification received has no immediate effect on the listing of the Company's American depositary shares on Nasdaq. Nasdaq has provided the Company with 45 calendar days, or until June 27, 2025, to submit a plan to regain compliance with the minimum stockholders' equity standard. The Company will be working with its advisors to submit a plan of compliance, that if accepted by Nasdaq, can grant an extension of up to 180 calendar days from the date of the notification letter.
The Company, by filing this press release, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5815(a).
Forward-Looking Statement
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 20-F and its Current Reports on Form 6-K. Investors are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Company Contact
Penny Pei
Investor Relations
AirNet Technology Inc.
Tel: +86-10-8460-8678
Email: penny@ihangmei.com
FAQ
What is the minimum stockholders' equity requirement for Nasdaq Capital Market listing that ANTE failed to meet?
When is the deadline for ANTE to submit its compliance plan to Nasdaq?
What happens if Nasdaq accepts ANTE's compliance plan?
Will ANTE be immediately delisted from Nasdaq due to this notification?
